Quote:
Originally Posted by CaptainCrunch
Isn't that above the Canadian inflation rate?
Yup, inflation rate is 2.9%
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I'm pretty sure inflation in Calgary
over a 25-year period (the time frame cited in the article) is greater than 2.9%.
In either case, I don't necessarily think it's a bad thing that people are achieving financial success in Calgary at rates larger than elsewhere in the country. Neither my wife or I work in the O&G industry, and we're both making very comfortable upper-middle class livings in this city. We certainly have a higher quality of life here than we would in Vancouver or Toronto where there's no possible way we could afford to buy a home in a central downtown location like we did in Calgary.
One thing these stats do accomplish, though, is provide yet another data point against the trickle down Reaganomics theory that "a rising tide lifts all boats".